MOTIONFISH MEDIA PROJECT C.I.C.

Company limited by guarantee

Company Registration Number:
09255076 (England and Wales)

Unaudited statutory accounts for the year ended 31 October 2023

Period of accounts

Start date: 1 November 2022

End date: 31 October 2023

MOTIONFISH MEDIA PROJECT C.I.C.

Contents of the Financial Statements

for the Period Ended 31 October 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

MOTIONFISH MEDIA PROJECT C.I.C.

Directors' report period ended 31 October 2023

The directors present their report with the financial statements of the company for the period ended 31 October 2023

Principal activities of the company

The principal activity of the company during the year under review was video production services.



Directors

The director shown below has held office during the whole of the period from
1 November 2022 to 31 October 2023

J. Rose


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
29 February 2024

And signed on behalf of the board by:
Name: J. Rose
Status: Director

MOTIONFISH MEDIA PROJECT C.I.C.

Profit And Loss Account

for the Period Ended 31 October 2023

2023 2022


£

£
Turnover: 109,818 102,370
Cost of sales: ( 48,367 ) ( 60,267 )
Gross profit(or loss): 61,451 42,103
Distribution costs: ( 4,783 ) ( 14,249 )
Administrative expenses: ( 27,326 ) ( 26,032 )
Operating profit(or loss): 29,342 1,822
Interest receivable and similar income: 25
Profit(or loss) before tax: 29,367 1,822
Tax: ( 5,911 ) ( 1 )
Profit(or loss) for the financial year: 23,456 1,821

MOTIONFISH MEDIA PROJECT C.I.C.

Balance sheet

As at 31 October 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 6,322 2,582
Total fixed assets: 6,322 2,582
Current assets
Cash at bank and in hand: 62,270 15,367
Total current assets: 62,270 15,367
Creditors: amounts falling due within one year: 4 ( 27,327 ) ( 1,341 )
Net current assets (liabilities): 34,943 14,026
Total assets less current liabilities: 41,265 16,608
Provision for liabilities: ( 1,201 )
Total net assets (liabilities): 40,064 16,608
Members' funds
Profit and loss account: 40,064 16,608
Total members' funds: 40,064 16,608

The notes form part of these financial statements

MOTIONFISH MEDIA PROJECT C.I.C.

Balance sheet statements

For the year ending 31 October 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 29 February 2024
and signed on behalf of the board by:

Name: J. Rose
Status: Director

The notes form part of these financial statements

MOTIONFISH MEDIA PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    TurnoverTurnover is measured at the fair value of the consideration received or receivable. Turnover is reducedfor estimated customer returns, rebates and other similar allowances.Revenue from the sale of goods is recognised when all the following conditions are satisfied: the Company has transferred to the buyer the significant risks and rewards of ownership of thegoods; the Company retains neither continuing managerial involvement to the degree usually associatedwith ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the Company;and the costs incurred or to be incurred in respect of the transaction can be measured reliably.Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title ispassed.

    Tangible fixed assets depreciation policy

    Tangible fixed assets and depreciationTangible fixed assets held for the company's own use are stated at cost less accumulated depreciationand accumulated impairment losses.At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets todetermine whether there is any indication that any items have suffered an impairment loss. If any suchindication exists, the recoverable amount of an asset is estimated in order to determine the extent of theimpairment loss.Depreciation is provided at the following annual rates in order to write off the cost or valuation less theestimated residual value of each asset over its estimated useful life:Furniture, fittings andequipment25% Reducing balance

    Other accounting policies

    TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus asreported in the income and expenditure account because of items of income or expense that are taxableor deductible in other years and items that are never taxable or deductible. The Company's liability forcurrent tax is calculated using tax rates that have been enacted or substantively enacted by the end ofthe reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities inthe financial statements and the corresponding tax bases used in the computation of taxable profit.Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assetsare generally recognised for all deductible timing differences to the extent that it is probable that taxableprofits will be available against which those deductible temporary differences can be utilised. Thecarrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced tothe extent that it is no longer probable that sufficient taxable profits will be available to allow all or partof the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the periodin which the liability is settled or the asset realised, based on tax rates (and tax laws) that have beenenacted or substantively enacted by the end of the reporting period.Current or deferred tax for the year is recognised in the income and expenditure account, except whenthey relate to items that are recognised in other comprehensive income or directly in equity, in whichcase, the current and deferred tax is also recognised in other comprehensive income or directly in equityrespectively.Trade and other creditorsShort term creditors are measured at the transaction price. Other financial liabilities, including bankloans, are measured initially at fair value, net of transaction costs, and are measured subsequently atamortised cost using the effective interest method.

MOTIONFISH MEDIA PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

MOTIONFISH MEDIA PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 November 2022 5,740 5,740
Additions 5,320 5,320
Disposals
Revaluations
Transfers
At 31 October 2023 11,060 11,060
Depreciation
At 1 November 2022 3,158 3,158
Charge for year 1,580 1,580
On disposals
Other adjustments
At 31 October 2023 4,738 4,738
Net book value
At 31 October 2023 6,322 6,322
At 31 October 2022 2,582 2,582

MOTIONFISH MEDIA PROJECT C.I.C.

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 25,878
Accruals and deferred income 1,231 1,079
Other creditors 218 262
Total 27,327 1,341

COMMUNITY INTEREST ANNUAL REPORT

MOTIONFISH MEDIA PROJECT C.I.C.

Company Number: 09255076 (England and Wales)

Year Ending: 31 October 2023

Company activities and impact

MotionFish Media Project is a video production company and social enterprise. The emphasis of the company has been to enhance employability of media graduates and help them create a portfolio of work to build a career in the media. During the financial year 2022 2023 the companies activities have benefitted the community in the following ways1.We focused this year on helping graduates with their personal branding and marketing. This was to help them create more freelance work and progress in their careers. The support included 1 to 1 mentoring and reviewing their websites and CVs. As a result the graduates have generated a number of new clients and gained more experience and increased their annual finances this year.2.We continued to supported our current team dealing with the cost of living challenges and again increased daily pay rate and travel rates. We spoke to graduates about any financial challenges they might be having and we also accommodated them by having a flexible approach to our payment terms. 3.Overall MotionFish produced over 100 videos this year. All the videos were filmed solely by media graduates who were paid well above the minimum wage for their time. All the graduates in our team were able to showcase their work online to generate further freelance employment.4.MotionFish focused on a new community project to deliver a number of free video production workshops to young adults with disabilities. We successfully found a charity partner who was happy to work with us. We developed the workshops, delivery timelines and purchased relevant equipment for the workshops. The workshops are going to be rolled out in 2023 2024.

Consultation with stakeholders

The graduates are asked to feedback periodically on their thoughts and evaluateoverall experience. This is sometimes done through email or during conversations over thephone and face to face. On starting to work with MotionFish graduates are always asked what type of videos they would like to work on which will progress their career in the desired direction. Graduates are asked their preferred role within the production team and the skills they would like to develop eg: filming corporate videos editing, directing actors.Graduates are then matched to projects to our best ability that are in-line with their careeraspirations. In addition, post-covid, graduates are asked how they would like to work during this period and if they were facing any challenges (employment and mental health). Motionfish accommodated graduates requests as much as possible to minimise income disruption and maximise crew wellbeing on set.

Directors' remuneration

The aggregate amount of emoluments paid to or receivable by directors in respect ofqualifying services was £8,400. There were no other transactions or arrangements in connection with the remuneration of directors or compensation for director’s loss of office which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
12 March 2024

And signed on behalf of the board by:
Name: J. Rose
Status: Director